Our Mission
"To Enrich the Quality of Life
Throughout Idaho."
The Foundation does not define what that means; rather, ICF invites communities statewide to describe - through the applications they submit - what is needed to make life better for the people in their town.
To achieve its mission, ICF gathers funds from donors, helping them achieve their philanthropic objectives; grows the funds over time through a sound investment process; and grants the funds for a broad variety of philanthropic projects statewide.
Dear Friends,
Idaho is a wonderful state in which to live and raise a family, and it is a true honor to serve the state through the philanthropy of the Idaho Community Foundation. During the last year ICF experienced record growth in its assets and in the number of funds encompassed within the Foundation. At year-end, assets totaled $68.7 million. Of that amount, over $59 million was in permanent endowment. By comparison, at year-end 2005, total assets were $59.2 million with just over $49 million in permanent endowment. New donations for 2006 totaled slightly over $7 million. The remaining growth was achieved through ICF's investments for both endowed and non-endowed funds. Investment returns for the endowed funds were 14.3%. The total number of funds increased by 37 to 372. We continue to receive various types of gifts including several donations directly from individual retirement accounts.
ICF's mission is to enrich the quality of life throughout Idaho, and we accomplish this mission by sound practices of grant-making. ICF continued its practice of distributing 5% from the endowed funds, so our 2006 grants and distributions awarded totaled $3.3 million, and we are proud to continue our tradition of making grants in all of Idaho's 44 counties. The volunteer regional panelists continue to inspire Board members and staff with the level of their community knowledge, the depth of their research into the applications, and the wisdom they bring to the grants panels. For 2006 the Board of Directors awarded $570,000 in competitive grants. The competitive grants process remains a strong hallmark of the Idaho Community Foundation. Again this year we were honored to have the continued support of the J. A. and Kathryn Albertson Foundation for the educational grants aspect of our competitive grant program.
In early 2006 the Board of Directors adopted an updated strategic plan which focuses on four objectives, enhancing Foundation leadership, heightening the awareness of ICF throughout the state, increasing the asset base, and improving the grant distribution process. The plan provides guideposts and a framework for focus as the Foundation continues to experience growth and new challenges and opportunities.
Last year Roger Martell completed his Board service and he was honored at our Annual Luncheon as the Friend of the Foundation. We welcomed a new Board member, Joe Marshall of Boise, the retired CEO of Idaho Power.
In sum, 2006 was a record-setting year and we look forward to serving our donors and grant recipients in 2007. Thank you to all our friends!
Cathy R. Silak
President and CEO
Duane Jacklin
Chairman of the Board
